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Philly Shipyard, Inc. (PSI), the sole operating subsidiary of Philly Shipyard ASA (XOAX: PHLY), today announced the authorization by the U.S. Department of Transportation’s Maritime Administration (MARAD) and subsequent order from TOTE Services, LLC (TOTE Services) for the construction of one additional National Security Multi-Mission Vessel (NSMV) – marking the fifth and final NSMV in the training ship series. This…
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July 28, 2021 – Crowley Maritime Corporation’s Solutions business unit has been awarded a multi-year, $638 million contract for Vessel Acquisition Management (VAM) by the U.S. Maritime Administration (MARAD). Crowley’s strategic acquisition and vessel management service will assist MARAD in the enhancement of the Ready Reserve Force (RRF), helping reduce the overall age of the fleet and increase ship reliability.…
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January 20, 2021 – Today, the U.S. Department of Transportation’s Maritime Administration (MARAD) announced the availability of $19.6 million in Federal funding to U.S. small shipyards through the Small Shipyard Grant Program. These investments support efficiency improvements and modernizations that allow U.S. shipyards to compete more effectively in the global marketplace. Since its inception in 2008, the Department’s Small Shipyard…
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January 19, 2021 – The U.S. Department of Transportation’s Maritime Administration (MARAD) today authorized the construction of two additional National Security Multi-Mission Vessels (NSMV), which will replace aging training vessels at Maine Maritime Academy in Castine, Maine, and Texas A&M Maritime Academy in Galveston, Texas. MARAD previously authorized the construction of the first two NSMVs, destined for SUNY Maritime College…
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December 15, 2020 – TOTE Services, LLC, and Philly Shipyard, Inc., today began a new era in maritime education with the cutting of steel for the new National Security Multi-Mission Vessel (NSMV) at Philly Shipyard. This is the initial major construction milestone for the first purpose-built, state-of-the-art training vessel for America’s state maritime academies. In addition to providing world-class training…
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Issues August 21, 2020 Description 1. Issues: Recent disputes among countries over maritime boundaries and offshore resources have increased regional tensions in the Eastern Mediterranean Sea. Also, NATO’s Operation Sea Guardian has resumed focused NATO patrols in the Eastern Mediterranean with naval forces of multiple nations operating near each other. These developments could pose an indirect risk to commercial vessels…
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August 13, 2020 – Throughout the months of July and August, the Military Sealift Command chartered roll-on/roll-off/container ship MV Cape Hudson (T-AKR 5066) has been supporting the U.S. Army, transporting military vehicles and supplies throughout the Pacific region for use in ongoing military training exercises. Managed by the Matson Navigation Company, and part of The United States Maritime Administration (MARAD)…
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April 20, 2020 – The U.S. Department of Transportation’s Maritime Administration (MARAD) today awarded $19.6 million in discretionary grants to 24 U.S. small shipyards through the Small Shipyard Grant Program. The funding will help modernize America’s small shipyards, making them more efficient in constructing commercial vessels. “This $19.6 million federal government investment in the nation’s small shipyards will help maintain…
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April 8, 2020 – Philly Shipyard, Inc., the sole operating subsidiary of Philly Shipyard ASA, has been awarded a contract for the construction of up to five (5) National Security Multi-Mission Vessels (NSMV) from TOTE Services, LLC (TOTE), an industry leader in ship management, marine operations and vessel services. TOTE was selected by the U.S. Department of Transportation’s Maritime Administration…
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